Meghan Markle and Prince Harry made headlines once again after it was revealed Prince Harry won’t ask Meghan Markle to sign a prenup. He’s excited for Markle to officially become a member of the British royal family. That’s romantic, but it might not be a very smart decision on his part. Prince Harry’s choice could leave him open to an unfavorable situation.
Here’s the reason Prince Harry and Meghan Markle need a prenup and why the prince won’t ask his future wife to sign one.
Prince Harry is worth a lot more than Meghan Markle
Prince Harry is pretty much set for the rest of his life. Although both Markle and Prince Harry each have their own wealth, if the marriage doesn’t last things could get messy. Prince Harry is worth far more and his fortune could be up for grabs. Estimates put Prince Harry’s net worth at anywhere from $25 million to $40 million. Markle’s net worth is about $5 million.
Next: She could gain a lot if the marriage doesn’t work out.
What’s at stake
If the marriage doesn’t work out, Markle has a lot to gain. In addition to his personal assets, Prince Harry is also likely to inherit wealth from his grandparents (Queen Elizabeth II and Prince Philip) and his father, Prince Charles. Furthermore, on his 30th birthday back in 2014, Prince Harry received a $13 million inheritance from his mother, the late Princess Diana. A prenuptial agreement could protect those assets.
Next: Why this royal couple might not last
Meghan has been divorced once before
Let’s face it, although they seem happy and in love, plenty of marriages fail. And the odds of a second marriage surviving aren’t so great (roughly 67% of second marriages end in divorce). Sure, she might be a different person now, but different people tend to bring the same problems into a new relationship. We hope they find lasting love, but as you can see from the statistics, nothing is guaranteed.
Next: This could happen if the couple breaks up.
If they divorce, Meghan will likely need financial support
Markle gave up her acting career to be with Prince Harry. Although Markle will likely earn residual income from re-airs of her show Suits, it’s hard to say how long the checks will keep coming. This could pose a situation where she would have little choice but to request financial support, so she could sustain herself until she re-establishes herself in the acting world. It would make more sense for the couple to iron out the details just in case this situation arises.
Next: Meghan Markle’s ex maid of honor spills the tea.
Why Meghan’s first marriage failed
Ninaki Priddy, a childhood friend of Markle’s and the maid of honor at her first wedding, shared with Daily Mail why Meghan’s first marriage didn’t work out. Priddy alleges Markle left Trevor Engelson, a film producer and talent manager, because it was part of a calculated plan to advance her career.
Markle and Engelson were married for just two years. “After the wedding, it was like a light switched off,” Priddy told Daily Mail. “There’s Meghan Before Fame and Meghan After Fame. After three seasons of Suits, she called me to say the marriage was over,” said Priddy.
Next: This is why Prince Harry won’t ask Meghan to sign on the dotted line.
Why Prince Harry won’t ask Meghan Markle to sign a prenup
Prince Harry made a bold move by choosing to put love before money. Although he believes his marriage to Markle will last, there’s another reason he’s forgoing a prenup. His decision seems to be partly based on what his family members have done in the past. Despite the family’s wealth, neither Prince Charles nor Prince William asked their wives to sign a prenup, according to the UK’s Express.
In Prince Charles’ case, this proved to be a bad move. When he and Diana called it quits in 1996, she walked away with a payout of $24 million. Geoffrey Bignell, who managed Prince Charles’s finances until 1996, said Prince Charles had to liquidate his entire investment portfolio to make the payment, reports The Telegraph.
Next: All is not lost.
It’s not too late
Markle and Prince Harry can still protect their assets even after they get married. If they have a change of heart, they can get a postnuptial agreement. This is similar to a prenup, the only difference is that the document is created after marriage. A postnuptial agreement can prove useful, especially when it comes to deciding who gets to keep items that hold sentimental value.
Next: Why some people think Harry’s move is a bad idea.
What lawyers think
As you would probably expect, attorneys don’t think it’s such a great idea for the royal couple to enter marriage without protecting their assets. Attorney Kim Aucott told Daily Mail she would advise couples in a position like theirs to consider a prenup. “…He will be guided by family, despite advisors around him saying [he] should think about this. I would have said anyone in their position should be advised to have prenup, said Aucott. “And the reason being, is so they can resolve financial matters between themselves without it being in the spotlight,” she continued.
Next: Is this royal relationship doomed?
Why this relationship might be doomed
Will this couple last? At this point, it’s anyone’s guess. Although Markle and Prince Harry might beat the odds, there’s no getting around the fact she comes from a family of divorce. Her father, Thomas Markle Sr., has been divorced twice. Markle’s brother, Thomas Jr., and Meghan’s half-sister, Samantha, have also been divorced twice. Meghan has been divorced once. This pattern of divorce seems to have followed the Markle children.
In addition, Prince Harry’s father has also had trouble in the marriage department. We’re keeping our fingers crossed. Hopefully this couple will get their fairytale ending and live happily ever after.
Check out The Cheat Sheet on Facebook!